The Bulls are discussing a contract extension with Luol Deng. (AP Photo)

Deng, 28, has one year and $14.3 million left on his deal with Chicago.

Bulls management and Deng's representative, Herb Rudoy, have had discussions since the end of the Bulls' playoff run and plan to talk further in the near future, sources told Yahoo! Sports. The two sides discussed broad contract parameters recently, and have plans to talk more specifically about a possible extension soon, sources told Yahoo! Sports.

Deng missed games 6 and 7 of the Eastern Conference first-round victory over Brooklyn and the entire conference semifinal loss to Miami after complications arose from a spinal tap. Deng has been recovering and working his way back to full strength this summer.

Bulls coach Tom Thibodeau has long considered Deng an indispensable part of his roster, relying heavily on him as an anchor on the defensive end of the floor. Deng averaged 16.5 points, 6.3 rebounds and 3.0 assists per game for Chicago. Deng was the Bulls' first-round draft pick in 2004 and has played nine seasons with the franchise.

Bulls star Derrick Rose will return from an ACL injury next season to an expensive core that includes Deng, Joakim Noah and Carlos Boozer. Luxury tax issues will persist for the Bulls with the roster's current configuration next season.